How business vehicle depreciation works? This is my first year and would like to know how does it work? I have 2 vans (7 and 12 passengers) and both are used to transport people from/to the airport form/to a city that is 85 miles (Airport shuttle). They are used 100% for business. How will Vehicle Depreciation work if, for example, one van's monthly payment is $1,000 + other expenses (gas, oil, etc.)? Do I get to deduct all expenses (payment and other) and also vehicle depreciation? Or only vehicle depreciation + expenses (payment and other) so no payment? Also, for how long the van can be depreciated (2 years, 3, years, etc.)? Is there a depreciated schedule set by the IRS? Both vans' loan are for 60 months. I hope this is enough info about my question. Thank you
